Why Bitcoin Mining Stocks Soared on Friday

What happened

The price of Bitcoin (CRYPTO:BTC) was suddenly surging Friday. As of 3:30 p.m. ET, Bitcoin was trading at around $40,600, having jumped 11% over the previous 24 hours.

That pulled a host of Bitcoin mining stocks higher as well. For example, Bitfarms (NASDAQ:BITF), Riot Blockchain (NASDAQ:RIOT), Hut 8 Mining (NASDAQ:HUT), and Bit Digital (NASDAQ:BTBT) were up 14%, 13%, 14%, and 20%, respectively, as of this writing. But those gains were…


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